Highlights of key economic statistics from last week compiled by Putnam Investments.
- The CPI rose 0.1% and core CPI increased 0.4% in March, the Bureau of Labor Statistics found.
- The Producer Price Index for final demand fell 0.5% in March, the Bureau of Labor Statistics reported.
- Wholesale sales rose 0.4% in February compared with January, the Census Bureau stated.
- Initial jobless claims rose by 11,000 to 239,000 in the week ended April 8, 2023, according to the Department of Labor.
- As of April 6, of the 18 S&P 500 Index companies reporting first-quarter earnings, 16 beat analysts’ estimates, according to S&P Dow Jones Indices.
- The NFIB Small Business Optimism Index decreased slightly in March.
- Eurostat reported euro area retail sales fell by 0.8% in February compared with January.
- Eurostat found euro area industrial production grew by 1.5% in February compared with January.
- The yield on the 10-year Treasury note rose.
- High energy prices, worsened by the Russia-Ukraine War, increase the risk of stagflation and recession, even as central banks seek monetary policy normalization.
- Declining liquidity and deteriorating financial conditions, combined with high valuations, are contributing to a substantial uptick in risk asset volatility.
- Global leverage is at worrisome levels and will eventually need to be paid for, at a time when most developed markets are facing a fiscal drag from the end of post-pandemic stimulus.
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All economic and performance information is historical and does not guarantee future results. The views and opinions expressed are those of Putnam Investments, are subject to change with market conditions, and are not meant as investment advice.
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